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Statistics show that one in four UK adults think about having their own business at some point or another in their lifetime. Reading this magazine probably means you have thought about it or are already running your own business.
Here are my five top tips for starting a new business:
1. Do your market research.
Prove that you are fulfilling a need in your customers. Do they want what you are offering?
2. Do your competitor research.
See who else is doing this and how you can improve on what they do and find out what will make you different.
3. Plan your finances carefully.
Work out all your costs to start up, the costs for running your business and the amount of sales you are hoping for. Do the numbers work out to show you will make a profit?
4. Write a business plan.
This will help you think about and plan for all aspects of your business and will include what you have done in points 1-3 as well as information on marketing your product or service and what you want to achieve with the business.
5. Get support from a mentor either through Business Link or other support organisations.
Research shows that writing a business plan and finding a mentor to support you as you develop your business can really make a difference to you succeeding in your business.
See www.arunbusinesspartnership.co.uk for information and downloads.
Editorial kindly supplied by Gareth Sear, Business Link
Winner: ThermoFloor Southern [
ThermoFloor Southern Ltd, the underfloor heating specialist, was formed in January 2009 following the shutdown of the Southern branch of Thermo-Floor Ltd.
Formed by CEO Ian Hunter it continues to supply, install and design underfloor heating and cooling systems across London and the South. ThermoFloor covers all types of construction including listed buildings, new builds, refurbishments, commercial/private clients and local authorities.
Ian Hunter says he is delighted to have won the award and that this recognition will give a big boost to the company and its loyal employees.
01243 822 058
www.thermofloorsouthern.co.uk
Sponsor: The Best Western Beachcroft Hotel
"Our decision to sponsor the New Business of the Year Award at this year’s Arun Business Awards came as a result of our appreciation for the determination and drive any new business must possess in order to survive in today's current climate. We believe that new local businesses deserve recognition for their achievements."
Philip Roberts, Manager, The Beachcroft Hotel
01243 827 142
www.beachcroft-hotel.co.uk
